Tag Archives: Property Insurance

Can property or specie insurance provide coverage for crypto losses?

By Jessica E. Gopiao and Christopher Kuleba on Posted in Cryptocurrency, Cyberliability, Insurance Coverage, Insurance General
How cryptocurrencies are viewed by courts can be determinative when seeking coverage for a cryptocurrency-related loss, and whether cryptocurrency is “money,” “securities,” or “property” has been the subject of heavy debate. In our previous blog post, we explored how your current D&O and/or cyber insurance policies may provide coverage for crypto-related losses. In this article, … Continue Reading

Florida: the time to move for attorney’s fees post-appraisal

By Wesley Butensky and Christopher Kuleba on Posted in Insurance Coverage, Insurance General, Property Damage & Business Interruption
Most residential property policies provide for an “appraisal” as an alternative dispute resolution mechanism when the insurer concedes coverage for a loss in whole or part, but the amount of the loss is disputed. The resulting appraisal award is binding on the parties absent certain limited grounds for challenging the award or the insurer’s obligation … Continue Reading

Music to my ears: Coverage considerations for musical instrument insurance (Part I of II)

By Adrienne N. Kitchen and John Vishneski on Posted in Insurance Coverage
Part I: Policy options This is the first part of a two-part blog series titled, “Music to my ears: Insurance coverage for musical instruments”. Part II covers exclusions, considerations, filing a claim, and tips. Musical instruments can cost significant sums running from a few hundred or thousand dollars to a million dollars or more. And … Continue Reading

COVID-19 event cancellation insurance – good news and bad news

By Mark Pring, Elizabeth F. Vieyra and Anthony B. Crawford on Posted in Commercial General Liability, Insurance Coverage, Insurance General
A concert promoter cancels a sold-out show of a world-renowned recording artist, reimbursing millions of dollars in ticket sales as a result.  If the reason for the cancellation was COVID-19, does insurance cover that? Event Cancellation Insurance Basics Event cancellation insurance generally provides coverage only when there has been a triggering event under the policy.  … Continue Reading

Pollution exclusion should not preclude coverage for virus-related claims

By Mike Sampson on Posted in Commercial General Liability, Construction Coverage, Corporate and Transactional Insurance Coverage, Cyberliability, D&O, E&O, Professional Liability, Employment Practices Liability, Financial Insurance Coverage, Insurance Coverage, Insurance General, Insurance Insolvency & Regulatory, Insurance News of Note, London/Bermuda Arbitrations, Property Damage & Business Interruption, Uncategorized
Faced with mounting claims for insurance coverage as a result of the novel coronavirus (COVID-19) outbreak, commercial insurers are likely to search for any policy provision that they think will enable them to avoid paying virus-related claims.  One provision that insurers ultimately may invoke in an attempt to deny such claims is the so-called “pollution … Continue Reading

In Wake of Disasters, Do Not Just Assume No Coverage Available for Cannabis-Related Losses

By Mike Sampson and Cristina Shea on Posted in Insurance Coverage, Insurance General, Insurance News of Note, Property Damage & Business Interruption
As reported extensively in the media over the past week, the cannabis industry has been hit hard by recent natural disasters. While companies doing business in this industry may face some unique challenges in purchasing insurance, and when attempting to obtain coverage for losses, insurance coverage – contrary to certain media reports – nevertheless may … Continue Reading

The End of the Snow Is Still Not the End of the Problems For the Buffalo, NY Area

By Anthony B. Crawford on Posted in Property Damage & Business Interruption
The Buffalo, New York area has been devastated with record level snowfalls causing widespread damage. Now that the snow has stopped falling, warmer weather and potentially heavy rainfall may cause flooding and will likely exacerbate the losses being experienced. This will complicate insurance claims because policyholders will inevitably face pushback from insurance companies regarding the extent of damage from the snowstorms versus subsequent flooding.… Continue Reading

Internet Interruption May Trigger Insurance Coverage

By Douglas Cameron, John Ellison and Rich Lewis on Posted in Insurance Coverage
On Dec. 19, 2008, underwater Internet cables in the Mediterranean Sea were cut, causing major connectivity issues to most Middle Eastern countries, as well as to South Asia. News reports are noting that while ships have been deployed to correct the issue, it could be upward of 10-14 days before connectivity is returned to normal. … Continue Reading
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